How can I create text with a neat quad topology for deformation?
Didn't realize this was a duplicate.

To expand on MrZak's comment.

A similiar geometry can be created with the help of the Remesh modifier. 


Raise the Extrude property of the text to > 0.
Add a remesh modifier. Uncheck Remove Disconnected Pieces. Raise the octree depth untill the result becomes acceptable.
In the 3D view, press &#9095; AltC and choose convert to mesh. (You now have polygon geometry.)
In edit mode, remove half of the text to make a flat solid again.